There are a few ways that you could do it:
1.) Wargamers method: layers of shaped foam boards covered with putty.
2.) Model RR method: chickenwire/wire mesh shaped and stapled to the base covered with plaster bandages/putty.
Those will give you your basic terrain shapes what you cover them with depends on what you want to represent.
As for basecoat/color I would go with earth/soil/dirt color.
The wire mesh makes for hollow terrain which makes it light-weight and allows for electronics, etc to be hidden, might also be good for other uses.